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1. Acquisitions and disposals of consolidated companies

Audited information

 

 

2020

 

 

 

2019

In CHF 1,000

Acquisitions

Disposals

Acquisitions

 

 

Disposals

 

Total

Total

Total

Régie du Rhône SA

Others

Total

Cash and cash equivalents

488

–74

584

–38,873

–3,256

–42,129

Trade and other current receivables

370

–39

133

–14,939

–2,074

–17,013

Investment properties and properties held for sale

1,626

–4,239

45,133

-

–62,963

–62,963

Fixed assets

519

-

42

–454

–742

–1,197

Other non-current assets

60

–101

-

–101

–74

–175

Trade and other current liabilities

–457

2

–933

48,794

11,479

60,274

Non-current liabilities

–13

-

–4,487

75

5,352

5,427

Non-controlling interests

–134

-

29

-

198

198

Net assets acquired/disposed of

2,459

–4,452

40,500

–5,498

–52,080

–57,578

Investments in associates 1)

-

-

-

-

578

578

Shareholder loan 1)

-

-

-

-

21,922

21,922

Subtotal

2,459

–4,452

40,500

–5,498

–29,581

–35,078

Goodwill (recognised in/derecognised from equity)

2,914

–180

3,898

–8,284

–3,810

–12,094

Recognised income from disposal of properties

-

–1,425

-

-

–3,682

–3,682

Recognised income from disposal of subsidiaries

-

-

-

–15,785

–2,453

–18,238

Purchase/selling prices, net

5,372

–6,056

44,399

–29,567

–39,526

–69,093

Cash and cash equivalents acquired/disposed of

–488

74

–584

38,873

3,256

42,129

Unpaid purchase price consideration

-

-

–1,650

-

3,758

3,758

Purchase price consideration for acquisitions/disposals in prior years

149

–378

-

 

 

-

Cash outflow on acquisitions

5,034

 

42,165

 

 

 

Cash inflow from disposals

 

–6,360

 

 

 

–23,206

1) With the sale of half of the 83% stake in La Foncière de la Dixence SA in 2019, the remaining 42% stake was recognised as an investment in associates. The previously eliminated shareholder loan was recognised as a financial asset.

Transactions In 2020

On 10 January 2020, Investis Investments SA increased its shareholding in the proportional consolidated company Raffaele Investissement SA from 50% to 75%. On 17 January 2020, it
increased its shareholding further to 100%. Hence, the formerly proportionally consolidated company is thereafter fully consolidated.

On 27 March 2020, Investis Investments SA acquired 80% of the shares in the company ProLabo Sàrl, Sion. The company provides services and analyses concerning building pollutions. The purchase agreement contains an irrevocable obligation to purchase the remaining 20% of the shares latest as per 31 December 2022. The purchase price depends on the operating result of the acquired company in the financial year prior to the execution of the put option by the seller.

On 31 August 2020, 100% of the shares in Raffaele Investissement SA, Lens, were sold.

GROUP INTERNAL MERGERS IN 2020

As at 1 January 2020, the following Group companies were merged with Investis Properties SA, Lens:

  • Carmat S.A., Lens
  • Intercapital Development & Management SA, Geneva
  • RGS Immobilier SA, Geneva

Transactions in 2019

On 1 January 2019, Régie du Rhône SA acquired and integrated the property management portfolio of DHR Immobilier SA.

On 28 February 2019, 100% of the shares in Régie du Rhône Crans-Montana SA, Lens, were sold.

On 25 March 2019, half of the investment in La Foncière de la Dixence SA, Lens, was sold. The remaining 42% stake in the company was recognised as an investment in associates.

On 27 June 2019, 100% of the shares in Valotel SA, Lens, were sold.

On 8 August 2019, 100% of the shares in Régie du Rhône SA, Lancy, were sold.

On 8 August 2019, Investis Properties SA acquired 100% of the shares in the real estate companies RGS Immobilier SA, Geneva, and Intercapital Development & Management SA, Geneva.

On 30 August 2019, Hauswartprofis AG acquired and integrated the facility services portfolio of Handwerker & OPTIVER AG, Ettingen.

On 18 November 2019, 100% of the shares in Chauffage-Assistances SA, Geneva, Clim-Assistance SA, Geneva, and Synergie Services Facility Management SA, Lancy, were sold.

On 13 December 2019, Hauswartprofis AG acquired and integrated the facility services portfolio of Geronet SA, Vernier.

On 18 December 2019, all shares held (60%) in C.T. Creative Technologies SA, Martigny, were sold.

In 2019, net assets acquired in an acquisition in 2018 had to be adjusted. The recognition of a newly identified liability of CHF 0.07 million reduced the net asset value of the acquired company and consequently led to an increase in goodwill offset against retained earnings of CHF 0.04 million and a reduction in non-controlling interests of CHF 0.03 million.